Global Nanofiber Market to Reach Close to USD 1.2 Billion by 2020, According to Technavio
By Business Wire News
By Business Wire News
The global nanofiber market was valued at USD 455 million in 2014 and is expected to reach nearly USD 1.2 billion by 2020, growing at a CAGR of over 24%.
In this report, Technavio covers the present scenario and growth prospects of the global nanofiber market for 2016-2020. Based on technology platforms, the market is divided into the following segments: filtration, energy, electronics, and healthcare.
The APAC region: largest nanofiber market
In 2015, APAC accounted for more than USD 167 million in terms of revenue, and it is expected to record the fastest growth until 2020 as well. The high growth rate in this region is attributed to heavy funding from government agencies into R&D to achieve sustainable energy and environment solutions.
Some of the prominent countries in the APAC for research are China, South Korea, Japan, Singapore, and Taiwan. South Korea, which imports 90% of its energy from countries like Singapore and Japan is investing aggressively into nano technology to improve the energy efficiency of devices by using nanofibers as separators in fuel cells, solar cells, and other devices of high-energy capacitors.
This market research study also projects huge potential in the non-woven market of nanofibers within APAC as many roll goods manufacturers building facilities for manufacturing nanofibers in countries such as China, Thailand, and Indonesia.
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Some of the key leading players of this market include Asahi Kasei, TORAY, Tong Li, Catalytic Materials, Donaldson, DuPont, Johns Manville, FibeRio, Elmarco, and The Nanofiber Group.
Emergence of smart textiles in the APAC region
Smart textiles have emerged as the major application area for nanofiber in the APAC region. Smart textiles implies the integration of electronic devices with fabrics.
The latest development in nanofiber is the ability to harvest external energy from the environment or the users, with the intent of storing that energy within the fabric to power devices. However, in all such cases, the fabric is in direct connect (physical) with microelectronic components. Technavio’s market research analysts predict that textiles will be made from fiber that will contain smart devices, thereby introducing a complete and seamless smart function.
Improvement in nanofiber production and nano textiles: A key driver for growth in APAC
Many solution providers such as FibeRio and Elmarco are coming up with improved technology and new techniques, displaying their capabilities to provide comprehensive nanofiber solutions. Not only are these solution providers looking to demonstrate their higher production capacity but also their ability to complete turnkey projects. Vendors are expected to come up with new processes and machine setups.
For instance, some of the common electrospinning machine models provided by Tong Li Tech are:
- Conjugated electrospinning
- Coaxial electrospinning
- Mix electrospinning
- 3D print electrospinning
- Melt electrospinning
- Continuous electrospinning
- Near-field electrospinning
Apart from electrospinning, nano solution providers are also coming up with new designs and process mechanism. For instance, FibeRio technology’s McALLEN manufacturing facility developed its much awaited forcespinning nanofiber production system, which was launched in INDA filtration conference 2014. FibeRio’s fiber engine systems are the first and the only equipment lines capable of producing both melt and solution electrospinning nanofibers.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
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